Four men accused of allegedly being in possession of fake 20,000 U.S. dollar (about N7.2 million), on Friday appeared in an Igbosere Magistrates’ Court, Lagos.

The police charged Seyi Ayodele, 44; Harry Samson, 44; Olasujanmi Ogunyemi, 38 and Alex Ayoola, 40, whose addresses were not given, with three counts of conspiracy, unlawful possession and stealing.

The Prosecutor, Sgt. Moshood Abiola, told the court that the defendants committed the alleged offence on Feb. 13, at 2.30p.m. at No. 131, Broad St., Lagos Island.

He said that the defendants stole the genuine  currency and replaced it with the fake.

Abiola said the money belonged to the complainant, Mrs Shehu Taiwo.

He said the offence contravened the provisions of sections 287, 329 (1) (c) and 411 of the Criminal Law of Lagos State, 2015.

The defendants pleaded not guilty.

In her ruling, Magistrate O. O. Otitoj, admitted the defendants to bail in the sum of N100, 000 bail each with two sureties each in like sum.

She ordered that one of the sureties should be blood relatives of the defendants, the sureties should be gainfully employed and should show evidence of tax payments to the Lagos State Government.

Otitoj adjourned the case until April 3 for mention.